FFIEC-031 RC-C Part I Memo 13.a And 13.b Impacted MDRMs: RCONG376, RAIDG377WORK
(Doc ID 2491625.1)
Last updated on MARCH 01, 2019
Applies to:Oracle Financial Services - Regulatory Reporting for US Federal Reserve - Lombard Risk Integration Pack - Version 8.0.6 and later
Information in this document applies to any platform.
Memoranda 13.a/b: Amount of loans that provide for the use of interest reserves (included in Schedule RC-C, Part I, item 1.a, column B). The measure used for this MDRM is FCT_LOAN_ACCOUNT_SUMMARY.N_INT_AMT_RECD_AGAINST_INT_RES (This Column Stores the Amount Received against Interest Reserve. Report the amount of interest advanced to borrowers on construction loans that has been capitalized into the borrowers’ loan balances through the use of interest reserves (including interest)).
Will this measure suffice this part of the regulation: "The amount of capitalized interest included in interest income during the quarter should be reduced by amounts reversed against interest during the quarter?"
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